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EMPLOYMENT AGREEMENT AMENDMENT
This
EMPLOYMENT AGREEMENT AMENDMENT (this “Agreement”),
is dated as of October 24, 2007, by and between COLLECTORS
UNIVERSE, INC., a Delaware Corporation (the
“Company” or “CUI”), and MICHAEL R.
HAYNES (Executive”), with reference to the
following:
R E C I T A L
S :
A. Executive
is employed as Chief Executive Officer of the Company under an
Employment Agreement entered into by him with the Company as
of January 1, 2003, which has heretofore been amended on four
occasions, primarily to extend the term of the CEO’s
employment with the Company, most recently to December 31,
2007 and to evidence increases in his annual base salary, most
recently to $340,000 (and as heretofore amended, the
“Employment Agreement”); and
B. The
Company and the CEO desire to further amend the Employment
Agreement as and to the extent provided hereinafter in this
Agreement.
A G R E E M E
N T
NOW,
THEREFORE, in consideration of the respective promises of each
party made to the other in this Agreement and other good and
valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by each of the parties, it is agreed
as follows:
1.
Extension of the Term of Employment . The
term of Executive’s employment under the Employment
Agreement, as heretofore amended, is hereby extended and shall
continue to December 31, 2008, unless the
Executive’s employment is either (i) sooner
terminated pursuant to the provisions of any of Sections 5.2
through 5.7 (inclusive) of the Employment Agree
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